San Jose-based OCZ Technology Group is switching CFOs.

On Monday, the maker of solid-state memory drives announced that its chief financial officer of nine years, Arthur Knapp, is retiring and will be replaced by Rafael Torres.

Torres comes to OCZ from Alcatel-Lucent subsidiary Capella Photonics, where he served as CFO up through the switchmaker's January acquisition by larger Lucent. He also has experience in that position in two other Nasdaq-listed firms, $1.2 billion market-capped Power Integrations and smaller PLX Technology. In each case, OCZ says that Torres helped to engineer turnarounds at businesses that had come upon difficult times -- such as those encountered by unprofitable OCZ.


OCZ shares gained 3.9% in Monday trading, closing at $1.85 per share ahead of the news.


 

The article OCZ Picks a CFO originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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